It is widely used in the food industry as a structuring agent in products like margarine, spreads, confectionery, and bakery items to improve texture, stability, quality, and shelf life. In cosmetics, it serves as an emollient and moisturizer, enhancing skin hydration and softness in creams, lotions, and balms, while also building a skin barrier. It is additionally utilized in hair care products to add smoothness and protect against heat damage. In pharmaceutical formulations, it acts as a carrier for lipid-based drug delivery systems, improving the bioavailability of poorly soluble drugs. Its role in research includes studying lipid metabolism and membrane dynamics in biological systems.